Wednesday 7 August 2024

Ugly downside reversal

US equity indexes closed broadly lower, SPX -40pts (0.8%) at 5199. Nasdaq comp' -1.0%. Dow -0.6%. The Transports settled -1.0%. R2K -1.2%

SPX - daily

VIX - daily

Summary

US equities opened significantly higher, with the SPX pushing to 5330. From there... a rollover, with the market falling all the way into the closing seconds, printing 5195, and settling broadly lower at 5199.

Volatility was very mixed, the VIX printing a morning low of 21.97, but swinging upward to 29.76, and settling +0.5% to 27.85.


Extra charts in AH (usually around 5pm EDT) @ https://x.com/Trading_Sunset

Goodnight from London
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